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This report analyzes the role of Brazil's Federal Court of Accounts (TCU) in the prior oversight of federal railway and highway concessions under the Investment Partnership Program (PPI). It examines how the TCU manages socio-environmental risks and the impact of its timing in the project life cycle, specifically regarding the approval of Technical, Economical and Environmental Feasibility Studies (EVTEA).

This report by the Climate Policy Initiative (CPI/PUC-Rio) analyzes the role of the Brazilian Federal Court of Accounts (TCU) in the prior control of socio-environmental risks for federal railway and highway concessions. It argues that the TCU has become the primary, albeit late, instance for approving Technical, Economic, and Environmental Viability Studies (EVTEA), often filling a governance gap left by the Executive branch. The document examines specific cases to illustrate how the TCU manages environmental liabilities and the risks associated with the 'Manifestation of Interest' (PMI) procurement model.

This working paper by the World Resources Institute analyzes environmental and social risk management for overseas investments, specifically providing lessons for Chinese companies. Through six case studies of non-Chinese multinational companies, the paper demonstrates that strong risk management benefits companies, while weak management leads to financial loss and reputational damage.